Originally published on Technavio:Call Center Artificial Intelligence (AI) Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, Japan, UK,
Call Center AI Market Analysis
The call center AI market size is forecast to increase by USD 2.72 billion between 2022 and 2027, accelerating at a CAGR of 22.42%. In 2017, the US held the largest market share, projecting an annual revenue of USD 0.23 billion. The report offers extensive research analysis on the call center AI market size, with categorization based on End-users, including BFSI, Retail and e-commerce, IT and telecom, Media and entertainment, and Others. It further segments the market by Channel, encompassing phone, chat, email or text, social media, and website. Additionally, the call center AI market analysis report provides geographical segmentation, covering North America, APAC, Europe, South America, and Middle East and Africa. Market size, historical data (2017-2021), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.

Call Center AI Market Analysis
The global call center AI market is experiencing substantial growth due to the increasing adoption of cloud-based call centers. These call centers, delivered as SaaS solutions, are stored and tailored for cloud environments. Businesses can access them through subscription models, allowing for pay-as-you-go pricing based on actual usage. Cloud-based call centers offer flexibility, quick adaptability to changing business needs, and seamless integration with third-party applications via open APIs. They efficiently handle outbound, inbound, and blended interactions, enabling cost-effective and personalized customer service.

By leveraging cloud-based call centers, enterprises can consolidate customer data and query history, gaining insights into customer preferences. This enables more personalized services, efficient inquiry routing, and quicker issue resolution in a single interactive session. This enhanced functionality is driving the increased adoption of cloud-based call centers in the forecast period.

Call Center AI Market Segment Trends
BFSI Segment Holds the Largest Market Share
The BFSI segment was valued at USD 243.46 million in 2017 and continued to grow by 2021. The BFSI sector has been an early adopter of call center AI technologies due to its large customer base globally. The increase in the adoption of mobile technology has helped the sector in authentication, exchange of details, and conduct of transactions. Banks such as the Bank of America, J.P. Morgan Chase, Capital One, and many others have integrated call center AI technologies to reach out to their customers as well as to automate operations. In the highly competitive financial services industry, customer engagement plays a crucial role in gaining customer satisfaction and reducing operational costs. The failure to address customer inquiries reduces new revenue opportunities and increases the customer attrition rate. 
North America Holds a Prominent Position in the Call Center AI Market
North America is estimated to contribute 37% to the call center AI market growth during the forecast period. North America is expected to dominate the global call center AI market during the forecast period as a large number of people use the Internet for applications such as traveling and shopping. Customers in North America are tech-savvy and early adopters of chatbot technology. The adoption of bots in the US is mainly driven by the high awareness of AI and its potential. The increased use and benefits of bots encourage companies in different sectors, such as the BFSI and retail, to invest in bots to enhance customer experience and ensure brand loyalty. These factors will facilitate market growth during the forecast period.

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The Call Center AI Market is fragmented in nature. Some significant players include Alphabet Inc., Amazon.com Inc., Artificial Solutions International AB, Avaamo Inc., Avaya Holdings Corp.

The call center AI market forecast report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

Conversica Inc., Creative Virtual Ltd., EdgeVerve Systems Ltd., Inbenta Holdings Inc., Jio Haptik Technologies Ltd., Kore.ai Inc., Microsoft Corp., NICE Ltd., Nuance Communications Inc., Oracle Corp., Pypestream Inc., Rulai, SAP SE, Talkdesk Inc., and Zendesk Inc.

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